Việt Nam sees ’impressive’ export-import growth: WTO

Update:
April, 12/2016 - 10:07

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Cat Thai Manufacturing Trading Co., Ltd is one of the leading suppliers of components and parts. The World Trade Organisation reported that Viet Nam had impressive export-import growth in 2015. — VNA/VNS Photo An Hieu

GENEVA Viet Nam News -— Việt Nam is the only country to have achieved impressive export-import growth in 2015 among the 30 leading export-import economies of the World Trade Organisation (WTO).

This was the conclusion of the “World Trade 2016 and Prospects 2016” report announced by WTO Director General Roberto Azevedo.

The report indicated that Việt Nam’s exports soared 7.9 per cent to US$162 billion, and its imports surged 12.3 per cent, reaching $166 billion last year.
While major exporters such as China, Turkey and Italy recorded a falling value of maritime shipped goods, Asian countries, such as Việt Nam, Bangladesh, Cambodia and Myanmar, posted strong growth, it said.

In overview, the report painted a dismal picture of global trade in 2015, with the total goods value dropping 13.2 per cent to $16.5 trillion.
The United States remains the largest importer, with a total value of $2.3 trillion, down 4.3 per cent, followed by China with $1.6 trillion, down 14.2 per cent.

This year, Việt Nam targeted fetching a total of $178 billion from exports, up 10 per cent from a year earlier, and to control trade deficit at 5 per cent.

Experts forecast that this was not a very difficult target as export doors would be further widened after some bilateral and multilateral free trade agreements signed by Việt Nam take effect.

The new investments, coupled with continued market share gains in key products such as electronics, footwear and textiles and apparel, should boost Việt Nam’s exports, even if global demand remains weak, the experts said. — VNS